The Product area of our Commercial team is responsible for managing all of the Retirement Solutions and Protection products that sit within Life. This includes both legacy and currently marketed products.
We now have an opportunity for you to join the Life Product team in a management role at a time when we are about to embark on a programme of change that will shape the future of our pensions business. This could be the challenge or development opportunity you are ready for right now as you move forward in your LV= career.
The role is accountable for managing the pensions P&L and investment proposition for the Retirement Solutions area. There will be exciting opportunities to get involved in relationship development with our investment partners and the development of the products under your care, so may involve a bit of travel. We embrace flexible working so we will work with you to ensure you can make this role a success whilst maintaining your work life balance.
This is a key role in the product area so you will be integral to the success of our Flexible Transitions Account and Retirement Account products. Stakeholder management and collaboration will be a necessity for success in the role, so this is the perfect opportunity to take your influencing skills to a new level.
You’ll currently work in a similar role within Financial Services; you will have previous product management experience and technical knowledge. Highly numerate and comfortable working with numbers, you may even have pricing experience. You’ll have an in-depth knowledge of the market and a comprehensive understanding of FSA rules and regulations. You will be working closely with key stakeholders around the business so you will have excellent relationship building and communication skills and have strong negotiation skills. Knowledge of the pensions market and competitor propositions would be an advantage.
Want to know more? Here are the details:
- To review competitor rating
- To review product and competitor features
- To review the quality and “shape” of in-coming business
- To review the sales process for the product and make recommendations for improvement
- To review product performance including where applicable underwriting statistics for the product in detail and identify areas for remedial action / or where we can be more competitive.
- To ensure that rating changes have been accurately applied to the market product
- To liaise with other areas of LV (e.g. sales) to maximise their product knowledge
- To identify commercial opportunities for product development and for areas where growth can occur, prepare the business case for change and drive through to implementation.
Open Book and Legacy Products:
- To be the company’s expert on the product concerned
- To review processing delays, or other operational issues causing the customer to have a poor product experience.
- To tune the technical rating of the product into the market – preparing recommendations for the Pricing Committee
- To review product performance, completing control cycles, to ensure good customer outcomes are being delivered
- To address product related queries
- Responsible for key internal and external relationship management with business partners, suppliers, trade bodies, industry forums etc.
This role is a Band C in the LV= Structure. To find out more about our bands, click to view our FAQ page here. We want you to love what you do that’s why we’ve put together a benefits package that recognises and rewards a job well done.
We’ll give you:
- 30 days' holiday, with the option to buy up to 2 additional days
- a competitive pension for which LV= will pay twice the amount you pay, up to 14% (please click here to read more about it)
- an annual bonus scheme based on company and personal performance
- Single cover private medical insurance which you can upgrade to family cover
- a flexible benefits package (e.g. discounted retail vouchers, great value dental insurance, childcare vouchers)
- a generous 25% discount off our general insurance products including home, pet and travel. Up to 50% discount on your car insurance and up to 20% discount from our life products.
To find out more about our benefits and rewards, please click here.
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